Bitcoin is not serving its purpose ANYMORE transfer waiting 48hr even paid high

[nymphav]

Hello,

I was made a transfer yesterday
https://www.blockchain.com/btc/tx/c2f026d881fb1e927918f6dbb699636e4fc4591623ceadac80c09a1db07fc03b

I paid high fee:
Fee
$29.26
(176.366 sat/B - 44.091 sat/WU - 339 bytes)

But still didnt get confirmed.

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

[fiulpro]

Hi
This is the same issue that I have been facing since the price skyrocketed. Honestly this is just network congestion. There are a lot of trading being done right now and therefore it is supposed to be expected. My transaction failed and was returned to me and I again am waiting for the transaction to get confirmed. Just try and use lightning ⚡ if it is super important and other than that you would just have to wait for a while. The transaction would be returned but I do believe that you should wait for a while to again make it.
These kinds of issues will ofcourse arrive in the future too but you have to understand that due to sudden immense success of Bitcoins this was to be expected. But some wallets are still functioning well. All we can do is to wait for some updates in the network.

Edit : it's confirmed now so I believe all is good.

[SquirrelJulietGarden]

Your transaction will be confirmed very very soon.
179 sat/vbyte is too high to get confirmation.

The priority position for your transaction is 354/162269 total waiting transactions.
https://blockchair.com/bitcoin/transaction/c2f026d881fb1e927918f6dbb699636e4fc4591623ceadac80c09a1db07fc03b

With transaction count in a block is generally bigger than 400: https://blockchair.com/bitcoin/charts/transactions-in-block

[Lorence.xD]

You could have paid more to make the transaction faster, the network congestion is just too big of a problem so I think that you should just be patient when it comes to this kind of thing, unless you really need the money, I think that you will be alright. Someday this problem with network congestion will be solved by the developers because I believe that this is one of the many problems that bitcoin has to address so it can face no problem when it becomes widely adopted.

[BurtW]

@SquirrelJulietGarden That is a very cool site.  I was not aware of that site.  I have been watching it for a bit.

@nymphav The problem is that other transaction with an even higher priority appear to be "pushing you out"

I agree this is pretty pathetic.  You paid $32.47 to transfer $271.05 - a huge percentage - and that is not enough to get you to the front of the queue!

Now sitting at Priority: 545/161773

Even paying over thirty dollars you may never get in a block due to other people paying even more.

Bitcoin is not for small transfers at this time.

[jossiel]

This is a high fee transaction yet still unconfirmed. I've checked mempool and there's a lot of unconfirmed transactions.

Try your luck pushing that transaction through: https://www.viabtc.com/tools/txaccelerator

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

That's right yet sad to see that you have experienced slow in confirmation even though you've paid a lot in fees.

[Khaos77]

Hello,

I was made a transfer yesterday
https://www.blockchain.com/btc/tx/c2f026d881fb1e927918f6dbb699636e4fc4591623ceadac80c09a1db07fc03b

I paid high fee:
Fee
$29.26
(176.366 sat/B - 44.091 sat/WU - 339 bytes)

But still didnt get confirmed.

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

Bitcoin sucks at fast transfers and has high fees on top of that.

For Fast Transfers use LTC or DOGE.

[Twinkledoe]

This is a high fee transaction yet still unconfirmed. I've checked mempool and there's a lot of unconfirmed transactions.

Try your luck pushing that transaction through: https://www.viabtc.com/tools/txaccelerator

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

That's right yet sad to see that you have experienced slow in confirmation even though you've paid a lot in fees.

Or use the bitaccelerate - https://bitaccelerate.com/. Whenever I make btc transaction, I use this free accelerator afterwards. OP's transaction will be soon confirmed. But 19 hrs and still waiting, paying  176 sat/byte, usually that payment amount before will only take few minutes.

[Sithara007]

OP is simply unlucky. I checked the latest block that was mined (#671905). I could see a lot of transactions included in that block, that are having fee ranging from 120 Sat/Byte to 150 Sat/Byte. OP paid 176 Sat/Byte, and his transaction should have got the preference over these. But sometimes the smaller transactions (in terms of size) get confirmed first, even if the fee is slightly less. At this point, there is not much to do. Please wait patiently for some more time and hope that eventually the transaction will get confirmed.

[so98nn]

Your transaction will be confirmed very very soon.
179 sat/vbyte is too high to get confirmation.

The priority position for your transaction is 354/162269 total waiting transactions.
https://blockchair.com/bitcoin/transaction/c2f026d881fb1e927918f6dbb699636e4fc4591623ceadac80c09a1db07fc03b

With transaction count in a block is generally bigger than 400: https://blockchair.com/bitcoin/charts/transactions-in-block

Dam, that wait time is huge and can only happen when prices get skyrocketed.

You always make the transactions mostly on weekend then it can get queued shortly because on weekends the transactions are somehow very less as compared to the working days. This could be obvious since on weekdays institutional investors, exchangers with focused market are moving their assets here and there. 

This is a golden tip if you also wanna save money on the fees. I would never ever pay 27 bucks in fees. Thats crazy.

[mk4]

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

It sure was one of the initial main selling points. Unfortunately(or fortunately?) bitcoin's adoption and price just grew a bit too fast for everyone to adjust. Layer 2 solutions such as Lightning are what's going to fix the speed and fee problem, but they're unfortunately not that ready yet. It's going to take time.

[hulla]

Hello,

I was made a transfer yesterday
https://www.blockchain.com/btc/tx/c2f026d881fb1e927918f6dbb699636e4fc4591623ceadac80c09a1db07fc03b

I paid high fee:
Fee
$29.26
(176.366 sat/B - 44.091 sat/WU - 339 bytes)

But still didnt get confirmed.

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

Transaction confirmation delay doesn't mean Bitcoin did not serve it purpose anymore if you follow the right procedure before sending your transaction and paying a huge transaction doesn't matter either if you don't check the mempool condition.
Having said that, your transaction is currently at a good priority level and should get confirm in 2hours (12 blocks)if there's an increase in the network congestion since the wallet you use is Legacy but it will nice if you use the Segwit wallet ("bc1" or "3") next time.

This is a high fee transaction yet still unconfirmed. I've checked mempool and there's a lot of unconfirmed transactions.

Try your luck pushing that transaction through: https://www.viabtc.com/tools/txaccelerator

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

That's right yet sad to see that you have experienced slow in confirmation even though you've paid a lot in fees.

Or use the bitaccelerate - https://bitaccelerate.com/. Whenever I make btc transaction, I use this free accelerator afterwards. OP's transaction will be soon confirmed. But 19 hrs and still waiting, paying  176 sat/byte, usually that payment amount before will only take few minutes.

bitaccelerate only rebroadcast transaction but https://www.viabtc.com/tools/txaccelerator is the only working accelerator. It seems to be beyond the limit due to requests.

[ralle14]

You could have paid more to make the transaction faster, the network congestion is just too big of a problem so I think that you should just be patient when it comes to this kind of thing, unless you really need the money, I think that you will be alright. Someday this problem with network congestion will be solved by the developers because I believe that this is one of the many problems that bitcoin has to address so it can face no problem when it becomes widely adopted.

I think OP used enough transaction fees because yesterday I had a transaction with slightly lower fees 130 sat/b and it got confirmed within 5 blocks.

After a quick check it seems like OP's other related transaction had smaller fees and that's the one causing the delay regardless of the high fees used on the transaction above.

https://blockchair.com/bitcoin/transaction/22d97dae6a8a9afb0fd7792a1a9af78d00c373e4776ff6ef3433b7a2eaf651c3

[DapanasFruit]

This is one of the few things I really hate when there is a bull run or when there is a big volume of transactions in the network, there can be a big delay, and we are paying a hefty fee for the transaction. This is true with Bitcoin but also can be true with other platforms especially with Ethereum where a single transaction right now can cost you more or less from $50 - $100. This is certainly not what we expect why we are using cryptocurrency, we are supposed to be experiencing fast and cheap transfer - sadly this is not true as we speak. And there is no permanent solution for this as of now. No wonder that some are already discourages and not anymore convinced that the future of money is cryptocurrency, can you just imagine paying a coffee worth around $5 and yet paying trx fee of $20? That can be unbelievable and will certainly not be driving for more adoption though this can drive more players in the crypto mining sector and more speculations.

[Rruchi man]

I paid a high fee

Like the situation of a friend who borrowed some money from me with the expectation to pay back the next day after he sells out his Ethereum coins in his wallet worth the same amount. It got to the next day, and i was really expectant, only for me to receive a call from him saying that the money did not come out as expected, that after selling and because of the high transaction fee, the money was really short.

[avikz]

Hello,

I was made a transfer yesterday
https://www.blockchain.com/btc/tx/c2f026d881fb1e927918f6dbb699636e4fc4591623ceadac80c09a1db07fc03b

I paid high fee:
Fee
$29.26
(176.366 sat/B - 44.091 sat/WU - 339 bytes)

But still didnt get confirmed.

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

Well I empathize with you here! I too had faced Similar situation where I had paid big enough transaction fees and had to wait for 2 hours to get at least 3 confirmations. So bitcoin doesn't really look good as a currency at this point! I believe the situation would continue if the price of bitcoin continues to rise! There's no going back and we can't expect to have things any cheaper.

I think, it's high time we adopt LN! It's already live and LN enabled wallets are also available. Unless the confirmation time is reduced and the transaction fee becomes cheaper, bitcoin looks good for investment only!

[Jating]

Fortunately, it has been confirmed already.

As far as the argument that bitcoin doesn't serves it purpose, as some extent I will agree as it becomes a store of value and speculative asset. But still with LN around, maybe we can used bitcoin as payment scheme to buy coffee. But currently, almost everyone is complaining including myself as I have a stuck transaction for the past 48 hours and all I can do is wait.

[jossiel]

This is a high fee transaction yet still unconfirmed. I've checked mempool and there's a lot of unconfirmed transactions.

Try your luck pushing that transaction through: https://www.viabtc.com/tools/txaccelerator

Or use the bitaccelerate - https://bitaccelerate.com/. Whenever I make btc transaction, I use this free accelerator afterwards. OP's transaction will be soon confirmed. But 19 hrs and still waiting, paying  176 sat/byte, usually that payment amount before will only take few minutes.

bitaccelerate only rebroadcast transaction but https://www.viabtc.com/tools/txaccelerator is the only working accelerator. It seems to be beyond the limit due to requests.

I don't find bitaccelerate to be effective, I've used it a lot of times before when there's such congestion before but to no avail.

Btw, @OP, congratulations your transaction got 24 confirmations already. I think the thread is already good enough to be closed.

[NeuroticFish]

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

I see here 2 possible misunderstandings:

1. Fast money transfer is not necessarily means within minutes. Although in this unlucky case it took rather long for that fee, it's still much faster than ... international bank transfers.

2. Appropriate fee is a tricky topic. The fee in Bitcoin depends on transaction size, network use and desired priority, and not on the value transferred. Since this rules make 220$ have the same "sending price" like 1,000,000$, it indeed makes Bitcoin not suitable right now for transferring rather small values at high priority.

[Haunebu]

Am surprised to hear that you have been waiting for so long despite paying such high fees. I understand that the current insane bull run is responsible for these crazy high fees related to cryptocurrencies like BTC and ETH, but there are optimal workarounds available.

I usually select very low fees for my transactions by checking out optimal fees via Google and use TX accelerators to make sure that my transactions get confirmed.

This particular workaround has always worked for me and the maximum time I had to wait in such cases was 12 hours so far(luck does play a small role here).